Edtech Startup ixamBee Raises INR 11 Crore In Pre-Series A Funding The newly secured funds will be utilized to drive growth by launching additional learning programs and investing in content development, marketing, and technology
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Online learning platform focusing on job preparation for small-town students, ixamBee, has secured equity funding of INR 11 crore in its latest funding round. The investment comes from renowned investors, including S Chand and Company, IPV (Inflection Point Venture), Mukesh Sharma Family Trust, Keiretsu Forum, SAN Angles, Mumbai Angels, and Keyur Joshi (co-founder of MakeMyTrip). The funding round also involved a secondary transaction of INR 3 crore.
The newly secured funds will be utilized to drive growth by launching additional learning programs and investing in content development, marketing, and technology. ixamBee aims to enhance its comprehensive range of study materials, practice tests, interactive learning tools, and personalization features under the iLX umbrella. By leveraging AI and data analytics, the platform provides students with a personalized learning experience tailored to their specific needs and learning styles while tracking their progress and providing real-time feedback, according to an official statement by the company.
"We are thrilled to have S Chand and Company and Inflection Point Venture join ixamBee as investors. With S Chand being a leading publishing house for competitive exams, we see significant business synergies. In addition, IPV's existing corporate network will be instrumental in facilitating student placements in private sector jobs. This collaboration will exponentially increase the reach of ixamBee Learning Experience (iLX).The funds raised will be utilized to drive growth by launching additional learning programs, investing in content development, marketing initiatives, and technology enhancements," said Chandraprakash, co-founder and CEO of ixamBee.
The platform operates on a freemium business model, offering free mock tests for over 100 exams. Currently, ixamBee has reached over 12 million students, with 1.9 million students registered on the platform, claimed by the company in the statement.
"We are delighted to be part of ixamBee's journey, which is focused on empowering students for employment opportunities in both the government and private sectors, bridging the gap between higher education and employability. We identify several synergies with ixamBee in terms of content development, marketing, and meeting the aspirations of the country's future workforce," said Himanshu Gupta, managing director, S Chand Group.